{"id":32820,"date":"2023-11-07T18:41:58","date_gmt":"2023-11-07T18:41:58","guid":{"rendered":"https:\/\/isafespend.com\/personal-finance\/wealth\/a-6-billion-ubs-team-in-la-serves-as-a-holistic-center-of-advice\/"},"modified":"2023-11-07T18:42:00","modified_gmt":"2023-11-07T18:42:00","slug":"a-6-billion-ubs-team-in-la-serves-as-a-holistic-center-of-advice","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=32820","title":{"rendered":"A $6 Billion UBS Team In LA Serves As A \u2018Holistic Center Of Advice\u2019"},"content":{"rendered":"
\n

Team Name: <\/strong>Wise River Advisors<\/p>\n

Firm:<\/strong> UBS Private Wealth Management<\/p>\n

Senior Members: <\/strong>Craig Chiate, Mark Binder, Glenn Oratz, James Chiate, Tony Guinane<\/p>\n

Location: <\/strong>Los Angeles, CA<\/p>\n

Team Custodied Assets: <\/strong>$6 billion<\/p>\n

Forbes Rankings: <\/strong>Top Wealth Management Teams Private Wealth, Best-In-State Wealth Management Teams<\/p>\n

Background: <\/strong>While Craig Chiate started his career in investment banking, Mark Binder had his own real estate company before getting an MBA. Both worked in private wealth at Goldman Sachs, and then moved over to Merrill where they were on founding teams in the private banking and investment group in 2000. They eventually joined UBS in 2013. Chiate and Binder have been partners for nearly 25 years. With 24 people on the team today, they emphasize an intensive, long term financial planning approach that specializes in dealing with families across multiple generations. Many clients are ultra high net worth individuals and families, including entrepreneurs, athletes, entertainers and public company and private equity executives. \u201cIt\u2019s not just about the investment process but ultimately helping families with legacy planning for the next generation\u2014really being a holistic center of advice for every part of a client\u2019s life,\u201d says Binder.<\/p>\n

<\/fbs-ad><\/p>\n

Competitive Edge: <\/strong>\u201cWe jokingly say that we discovered the most important thing to our clients is not money, it\u2019s their families\u2014and when you can bring those two things together through education and open dialogue, that is at the top of our value proposition,\u201d says Chiate. \u201cWe have the ability to understand what is most important to each individual family and address all aspects of those needs.\u201d<\/p>\n

Investment Philosophy\/Strategy: <\/strong>\u201cThe heart of our investment philosophy is to keep things relatively simple,\u201d says Chiate. \u201cClients can withstand the volatility of the market so long as they understand what they own and that\u2019s why education is such a huge part of our process.\u201d The team tends to favor top-down asset allocation with an emphasis on tax efficient and cost effective strategies. On the equity side, that means typically owning index funds for their broad diversification and tax management benefits, while in fixed income, the team builds bond portfolios that they manage directly. Wise River also tends to be selective with alternative investments, favoring real estate, private equity and private credit. \u201cWe\u2019ve been very short in our municipal bond and Treasury portfolios but we\u2019re now in the process of extending that duration, especially with bonds,\u201d says Binder.<\/p>\n

Investment Outlook: <\/strong>\u201cThis is a particularly unclear time for markets\u2014anybody with a strong opinion on what happens next is overconfident,\u201d says Chiate. \u201cOur outlook is somewhat positive but we are taking a very measured, non-directional approach and trying to play this as defensively as we can.\u201d Both partners agree that with many different arguments to be made about a possible recession or soft economic landing, now is the time to wait and see, while not taking significant bets in either direction. Still, the team emphasizes taking advantage of different opportunities as they arise in the market: They were short on fixed income, for example, but see an opportunity to start extending Treasury and bond portfolio durations with rates locked in.<\/p>\n

Biggest Challenge: <\/strong>Finding the right partnership at the top of the team with a shared vision was the biggest challenge, the two say. \u201cWe disagree about a million things but in 30 years we haven’t had an argument,\u201d Binder says. \u201cWe do our research then come to a joint conclusion.\u201d<\/p>\n

<\/fbs-ad><\/p>\n

Best Advice: <\/strong>\u201cWe typically work with clients who have experienced some major change of circumstance, so our advice to clients is to go slowly and not do anything that is illiquid and that you don’t completely understand for a period of time,\u201d says Chiate. \u201cThere is absolutely no hurry\u2014sometimes it\u2019s okay to wait a year or two before any major decisions.\u201d<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Team Name: Wise River Advisors Firm: UBS Private Wealth Management Senior Members: Craig Chiate, Mark Binder, Glenn Oratz, James Chiate, Tony Guinane Location: Los Angeles, CA Team Custodied Assets: $6 billion Forbes Rankings: Top Wealth Management Teams Private Wealth, Best-In-State Wealth Management Teams Background: While Craig Chiate started his career in investment banking, Mark Binder<\/p>\n","protected":false},"author":1,"featured_media":32821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[],"class_list":{"0":"post-32820","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-wealth"},"yoast_head":"\nA $6 Billion UBS Team In LA Serves As A \u2018Holistic Center Of Advice\u2019 | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Team Name: Wise River Advisors Firm: UBS Private Wealth Management Senior Members: Craig Chiate, Mark Binder, Glenn Oratz, James Chiate, Tony Guinane\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=32820\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A $6 Billion UBS Team In LA Serves As A \u2018Holistic Center Of Advice\u2019 | iSafeSpend\" \/>\n<meta property=\"og:description\" content=\"Team Name: Wise River Advisors Firm: UBS Private Wealth Management Senior Members: Craig Chiate, Mark Binder, Glenn Oratz, James Chiate, Tony Guinane\" \/>\n<meta property=\"og:url\" content=\"https:\/\/isafespend.com\/?p=32820\" \/>\n<meta property=\"og:site_name\" content=\"iSafeSpend\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-07T18:41:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-07T18:42:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/11\/1699382518_0x0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1599\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/isafespend.com\/?p=32820#article\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/?p=32820\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\"},\"headline\":\"A $6 Billion UBS Team In LA Serves As A \u2018Holistic Center Of Advice\u2019\",\"datePublished\":\"2023-11-07T18:41:58+00:00\",\"dateModified\":\"2023-11-07T18:42:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/isafespend.com\/?p=32820\"},\"wordCount\":649,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"articleSection\":[\"Wealth\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/isafespend.com\/?p=32820#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/isafespend.com\/?p=32820\",\"url\":\"https:\/\/isafespend.com\/?p=32820\",\"name\":\"A $6 Billion UBS Team In LA Serves As A \u2018Holistic Center Of Advice\u2019 | iSafeSpend\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/#website\"},\"datePublished\":\"2023-11-07T18:41:58+00:00\",\"dateModified\":\"2023-11-07T18:42:00+00:00\",\"description\":\"Team Name: Wise River Advisors Firm: UBS Private Wealth Management Senior Members: Craig Chiate, Mark Binder, Glenn Oratz, James Chiate, Tony Guinane\",\"breadcrumb\":{\"@id\":\"https:\/\/isafespend.com\/?p=32820#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/isafespend.com\/?p=32820\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/isafespend.com\/?p=32820#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/isafespend.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"A $6 Billion UBS Team In LA Serves As A \u2018Holistic Center Of Advice\u2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/isafespend.com\/#website\",\"url\":\"https:\/\/isafespend.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/isafespend.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/isafespend.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/isafespend.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/isafespend.com\"],\"url\":\"https:\/\/isafespend.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"A $6 Billion UBS Team In LA Serves As A \u2018Holistic Center Of Advice\u2019 | iSafeSpend","description":"Team Name: Wise River Advisors Firm: UBS Private Wealth Management Senior Members: Craig Chiate, Mark Binder, Glenn Oratz, James Chiate, Tony Guinane","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/isafespend.com\/?p=32820","og_locale":"en_US","og_type":"article","og_title":"A $6 Billion UBS Team In LA Serves As A \u2018Holistic Center Of Advice\u2019 | iSafeSpend","og_description":"Team Name: Wise River Advisors Firm: UBS Private Wealth Management Senior Members: Craig Chiate, Mark Binder, Glenn Oratz, James Chiate, Tony Guinane","og_url":"https:\/\/isafespend.com\/?p=32820","og_site_name":"iSafeSpend","article_published_time":"2023-11-07T18:41:58+00:00","article_modified_time":"2023-11-07T18:42:00+00:00","og_image":[{"width":1599,"height":900,"url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/11\/1699382518_0x0.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/isafespend.com\/?p=32820#article","isPartOf":{"@id":"https:\/\/isafespend.com\/?p=32820"},"author":{"name":"News Room","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf"},"headline":"A $6 Billion UBS Team In LA Serves As A \u2018Holistic Center Of Advice\u2019","datePublished":"2023-11-07T18:41:58+00:00","dateModified":"2023-11-07T18:42:00+00:00","mainEntityOfPage":{"@id":"https:\/\/isafespend.com\/?p=32820"},"wordCount":649,"commentCount":0,"publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"articleSection":["Wealth"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/isafespend.com\/?p=32820#respond"]}]},{"@type":"WebPage","@id":"https:\/\/isafespend.com\/?p=32820","url":"https:\/\/isafespend.com\/?p=32820","name":"A $6 Billion UBS Team In LA Serves As A \u2018Holistic Center Of Advice\u2019 | iSafeSpend","isPartOf":{"@id":"https:\/\/isafespend.com\/#website"},"datePublished":"2023-11-07T18:41:58+00:00","dateModified":"2023-11-07T18:42:00+00:00","description":"Team Name: Wise River Advisors Firm: UBS Private Wealth Management Senior Members: Craig Chiate, Mark Binder, Glenn Oratz, James Chiate, Tony Guinane","breadcrumb":{"@id":"https:\/\/isafespend.com\/?p=32820#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/isafespend.com\/?p=32820"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/isafespend.com\/?p=32820#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/isafespend.com\/"},{"@type":"ListItem","position":2,"name":"A $6 Billion UBS Team In LA Serves As A \u2018Holistic Center Of Advice\u2019"}]},{"@type":"WebSite","@id":"https:\/\/isafespend.com\/#website","url":"https:\/\/isafespend.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/isafespend.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/isafespend.com\/#organization","name":"Solutions For Real","url":"https:\/\/isafespend.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/person\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/isafespend.com"],"url":"https:\/\/isafespend.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/32820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32820"}],"version-history":[{"count":1,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/32820\/revisions"}],"predecessor-version":[{"id":32822,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/32820\/revisions\/32822"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/media\/32821"}],"wp:attachment":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}